Twelve Belarusian companies will move business to Latvia

Currently, twelve businesses from Belarus have decided to relocate to Latvia, Ministry of Economics (EM) said September 15.

As reported, businesses that feel they can no longer operate in Belarus due to the latest in a long line of brutal crackdowns by the Lukashenko regime have been contacting the Latvian Investment and Development Agency (LIAA) about possible relocation.

Some companies that have decided to move their business qualify for the status of start-ups. These companies plan to transfer around 470 employees to Latvia, mainly company management representatives and key specialists, the Ministry said.

Solutions are currently being worked on so that these Belarusian companies can move their business to Latvia as soon as possible. A special team has been set up where the Ministry of Economy and the Latvian Investment and Development Agency (LIAA), in cooperation with other institutions involved, are examining applications from Belarusian entrepreneurs and offering possible solutions. 

EM pointed out that it could be problematic for these entrepreneurs. Minister of Economics, Janis Vitenbergs, said that the Latvian financial institutions are also working in parallel to find a compromise and create a “green corridor” for foreign companies for arrival in Latvia.

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